EuroPacific Growth trims stake in Tech Mahindra by 2.41 percent

NEW DELHI: EuroPacific Growth Fund has reduced its stake in IT firm Tech Mahindra by 2.41 per cent to 2.57 per cent.

EuroPacific Growth Fund, which had 5.03 per cent stake earlier, brought down its shareholding in the company to 2.57 per cent by selling shares between June 23, 2015 and November 7, 2016, Tech Mahindra said in a BSE filing.

EuroPacific Growth Fund sold 2.34 crore shares in the company during the period.

Shares of Tech Mahindra were trading 5.26 per cent lower at Rs 429.45 apiece on BSE.

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“There will be a new brand identity — work has started on it,” a senior consultant working on the merged company’s new identity said, speaking on the condition of anonymity due to non-disclosure agreements.